Westford, USA, July 24, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the demand for mixed xylene market is likely driven by the construction industry's growth and the automobile industry's development. In addition, the ortho-xylene is expected to rise in the coming years as the paints and adhesives industry expands.
Browse in-depth TOC on the "Mixed Xylene Market"
- Pages - 272
- Tables - 71
- Figures – 75
The mixed xylene market for solvents is poised for significant growth, driven by the increasing array of applications in various end-use industries. One of the key factors fueling this expansion is the growing demand for PET (polyethylene terephthalate) manufacturing. Solvents play a crucial role in producing PET, a widely used material for bottles, containers, and other packaging applications in the packaging industry.
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Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 44.6 Million |
| 2030 Value Projection | USD 76.5 Million |
| CAGR | 6.18% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Mixed Xylene Market
- Royal Dutch Shell Plc
- China Petrochemical Corporation (Sinopec Group)
- ExxonMobil Corporation
- BP plc
- Chevron Corporation
- Reliance Industries Limited
- Total S.A.
- LyondellBasell Industries Holdings B.V.
- Phillips 66 Company
- SK Innovation Co., Ltd.
- Indian Oil Corporation Limited
- LOTTE Chemical CORPORATION
- Idemitsu Kosan Co., Ltd.
- GS Caltex Corporation
- Flint Hills Resources
- Formosa Chemicals & Fibre Corporation
- PTT Global Chemical Public Company Limited
- CNOOC and Shell Petrochemicals Company Limited (CSPC)
- PT Pertamina (Persero)
- BASF SE
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Isomer Grade Segment is Expected to Grow in the Market Due to the Production of P-Xylene
The isomer-grade mixed xylene segment is projected to be the leading player in the global mixed xylene market, holding a significant market share. This isomer grade of mixed xylene is particularly crucial for producing p-xylene. P-xylene is obtained by processing mixed xylenes and is widely used in various applications, especially in gasoline blending, to enhance the octane rating.
The markets in the North America secured the second-largest share in the global mixed xylene market. One of the key driving factors for this market in the North America region is the heightened gasoline consumption in the United States.
Raw Material Segment is Expected to Dominate the Market Due to the Widespread Utilization of Mixed Xylene
The raw material segment in the mixed xylene market is expected to grow significantly during the forecast period. In 2022, the application of mixed xylene as a raw material dominated the market, capturing an impressive 83.4% market share. This highlights the widespread utilization of mixed xylene as a versatile raw material across various industries.
Regional markets in the Asia-Pacific are expected to experience robust growth in the mixed xylene market throughout the forecast period, owing to its extensive usage in various end-use application segments. Industries such as plastics, polymers, paints and coatings, and adhesives heavily rely on xylene due to its desirable properties. Xylene is a crucial raw material in producing plastics and polymers, contributing to the region's booming manufacturing sector.
A comprehensive analysis of the major players in the mixed xylene market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Mixed Xylene Market
- INEOS recently invested by acquiring BP's global aromatics and acetyls division for US$ 5 billion. This strategic move allowed INEOS to broaden its product portfolio and strengthen its position in the petrochemical industry.
- In 2021, Indian Oil Corporation Limited (IOCL) awarded Tecnimont Private Limited an Engineering, Procurement, Construction, and Commissioning (EPCC) contract worth US$ 450 million. The agreement entails the construction of an integrated paraxylene (PX) and purified terephthalic acid (PTA) facility in Paradip, Odisha.
Key Questions Answered in Mixed Xylene Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
Related Reports in SkyQuest’s Library:
Global Hydrazine Hydrate Market
Global Advanced Polymer Composites Market
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